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Easy pay products requires a new machine to produce one of its products-Easywash. Two companies have submitted bids, and you have been assigned the task of choosing one of the machines. Cash flow analysis indicates the following: Year Machine EE Machine ZEE 0 RM 110,000 RM 110,000 1 0 41,700 2 0 41,700 3 96,900 26,200 4 96,900 26,200 If the cost of capital is 8%, calculate the following: a) The payback period for each of the machine above. If the maximum desired payback period of the firm is 3.5 years, which machine should be chosen? b) Calculate the NPV for each of the machines. c) Determine the IRR of each proposal. d) Based on your analysis, what will your advice be to the firm